Toluene is experiencing substantial demand as an octane booster in the automotive fuel industry. Moreover, higher demand for toluene-based derivatives, such as xylenes and benzene, has increased the demand for the product globally.
LONDON: The procurement research report on the toluene market is an indispensable part of SpendEdge’s chemicals category portfolio and offers an in-depth assessment of the key factors influencing the supply market, procurement decisions, pricing models, and procurement best practices. Furthermore, it also offers an in-depth analysis of the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.
Toluene is used to produce chemicals such as benzene, xylenes, and toluene diisocyanate, and the market for these derivatives is experiencing robust demand, which can be attributed to the growth of industries such as construction, adhesives and sealants, home furnishing, and furniture.
“Purchasing managers must automate most of their procurement processes, which include automated ordering of raw materials and fuels,” says Anil Seth, a chemicals industry procurement research specialist at SpendEdge. “This will reduce the management efforts associated with procurement and the risk of a supply shortage due to manual errors,” added Anil.
Prices of toluene are consistently changing due to factors such as variations in demand and supply, and volatility in crude oil prices. This is leading to purchasing managers facing difficulty in estimating procurement budgets. This is also compelling them to hire consultants to forecast future prices, which adds to their procurement costs.
Need more insights on this report?
This procurement report on the toluene market offers insights on:
- Supply markets, growth drivers, trends, and imminent restraints
- Key suppliers and assessment of their capabilities
- Procurement best practices
- Negotiation strategies and cost-saving opportunities
- Pricing models and category innovations
- For a comprehensive, detailed list, view our full report
Get unlimited access to all our reports. Our Insights platform ready-to-use procurement research reports, latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. Request a free demo now